Australians Overpaying on Energy Bills by Hundreds Due to Inaction, ACCC Reports

The consumer watchdog urges households to review their electricity plans, revealing potential annual savings of over $300 for many who switch to better deals.

• The Australian Competition and Consumer Commission (ACCC) found that millions of households could save an average of $317 annually by switching to cheaper electricity plans.
• Over 80% of households in the National Electricity Network are on plans more expensive than necessary, with many paying above the government safety net price.
• Only one in four households switched plans in the past year, despite falling electricity prices and increased competition among energy retailers.
• Government rebates and subsidies have also contributed to reduced energy costs, with national electricity prices dropping by 17% in the three months to September 2024.
• The ACCC advises consumers to use comparison tools like Energy Made Easy or contact their energy providers directly to explore more affordable options.

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